Weihe Holdings' share price remained flat at 0.42 yuan on Friday.
Construction and real estate developer Wee Hur Holdings announced the establishment of a more than 500 million yuan medium-term notes program, with DBS and UOB being appointed as joint arrangements and dealers for the program.
Issuing notes is a debt financing method. The net funds raised by Weihe Holdings in the issuance of Notes under this medium-term note plan will be used for general corporate purposes of the Group, including refinancing of existing borrowings, as well as financing of investments, acquisitions, general working capital and group capital expenditures, or other purposes that may be specified in the relevant pricing supplementary documents.
When the mainboard listed company announced its news after the market closed on Friday (May 30), it pointed out that it had set up this plan, which can issue notes in SGD or other currencies from time to time and apply for notes to be listed on SGX.